The bearish DailyPlay we chose for Friday, Nov 9th is Rockwell Automation (ROK). ROK is part of the Industrial Sector (XLI). Over the last month, XLI has experienced an 2.97% move lower and its 1m and 6m trend has turned bearish on 10/10 while breaking below its $78 support level.
Rockwell Automation’s 1m and 6m trends turned bearish on 10/10 and recently broke below its $180 resistance level which was prior support. With a technical score of 7 (out of 10), ROK is a strong stock that is starting to turn lower.
As a stop loss, if ROK was to trade above $180 for multiple days, this would invalidate our analysis and suggest getting out of the trade.